By Oleg Vukmanovic and Henning Gloystein, Reuters As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals. Yet Russian exporter Gazprom's ability to swamp European natural gas markets with supply while depressing prices will make it difficult for as-yet unavailable U.S. supplies to displace Russian gas in Europe. The EU is keen to diversify away from Russian gas imports, a stance hardened by Gazprom's decision to switch off supply to Ukraine during a pricing dispute in 2009 which curtailed supplies to EU member states, as well. Yet U.S. LNG, exports of which are expected to ramp up beginning next year, are not a silver bullet in supply diversification for Europe. State-controlled Gazprom sells most of its gas to Europe in long-term deals that are partly linked to the price of oil. It has recently agreed major price reductions with most of its European customers, including Germany's E.ON and RWE, France's GDF Suez and Italy's ENI and Edison. The move has helped defend its leading position in Europe, including from potential U.S. shipments, and industry sources say that Russia may agree to further discounts. U.S. exports to Europe would barely break even at current spot market prices, as operating costs, fees and shipping rates would push the price of U.S. cargoes above European spot levels.
By Oleg Vukmanovic and Jacob Gronholt-Pedersen, Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals. Prices for April delivery dropped to around $18.10 per million British thermal units (mmBtu) from $19.60 per mmBtu last week. Petrobras, a major Atlantic Basin LNG buyer in recent weeks
Teekay LNG Partners L.P. announced that it has agreed to acquire a 155,900 cubic meter (cbm) liquefied natural gas (LNG) carrier newbuilding from Awilco LNG ASA, a Norwegian-based owner and operator of LNG carriers. The vessel, which is currently under construction by Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea, is expected to deliver in the third quarter of 2013, and subsequent to delivery from DSME to Awilco
Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations. Currently no LNG bunkering barges are in operation in American waterways, and these vessels will be among the first to be developed and built
When talk turns to marine propulsion and the host of surrounding topics – emissions, efficiency, fuel consumption – we turn to class for answers. While there are just two questions, the ensuing answers from leaders at ABS, BV, ClassNK, DNV GL, LR and RINA are voluminous & enlightening. • Paal Johansen, DNV GL The stricter environmental regulations and rising fuel costs lead to technology development in design, size, propulsion and operations
Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214
No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea
Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300
As Cargo, Fuel or both; LNG is emerging as the clear and clean way forward for the maritime industry. • In the Beginning The use of LNG as a marine fuel is not new. Vessels trading cryogenic LNG have burned boil-off natural gas in steam boilers for many years as a simple solution to maintaining necessary temperatures and pressures within cargo spaces
Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America. Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana. The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).
Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This is the third newbuilding vessel chartered by Mitsui & Co., following a contract signed last September 26 for two carriers
The HUMMEL (bumblebee) LNG Hybrid Barge will enable Becker Marine Systems to supply low-emission power to cruise ships lying at port in Hamburg. The first container with LNG fuel has arrived in the Hanseatic City. The barge works like a floating power plant and uses LNG to supply
A ferry being built for Sweden’s Rederi AB Gotland will be fueled by LNG, featuring a Wärtsilä integrated solution which includes a complete LNG powered propulsion- and fuel storage and supply system, as well as comprehensive project services
Japanese utility Tohoku Electric has purchased an LNG cargo for delivery in the third week of March at a price in the low $7 per million British thermal unit (mmBtu) range, pushing Asian benchmark spot LNG prices lower, traders said. Tohoku's tender to buy one cargo closed this week
Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender, three traders said on Friday. "They are waiting for the government to confirm
Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas. The four LNGCs are expected to be delivered between 2017 and 2019 and will be built with the NO96-GW technology
A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural gas (LNG) produced by Yamal LNG will be sold in Asia, Yamal LNG said on Friday.
Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume, selling seven cargoes, while oil major BP sold the remaining cargo, two traders said.
Port of Hirtshals in Denmark will receive over EUR1 million a pilot construction of the first liquefied natural gas (LNG) tank and bunker, co-financed by EU’s TEN-T Program. The pilot project will see construction of a 500 cubic meter LNG storage tank and bunkering facility
Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage and supply system also supplied by Wärtsilä
Gas supply from Lithuania's liquefied natural gas (LNG) import terminal was interrupted on Wednesday due to a bomb threat that later turned out to be a hoax, the terminal's operator Klaipedos Nafta said on Wednesday. The terminal is now preparing to restart, a spokeswoman said.
Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), will exhibit at Euromaritime, the European Marine Business Show, from February 3-5, 2015 in Paris, Porte de Versailles.
Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered membrane containment systems from designer GTT. These five ARC 7 LNGCs for Yamal Trade are expected to be delivered
The U.S. House of Representatives passed a bill on Wednesday to speed permits for exports of natural gas, a measure that even if passed by the Senate and signed into law by President Barack Obama, is not expected to help bring much new fuel to global markets.
Mitsubishi Heavy Industries, Ltd. (MHI) reports it has received an order for two next-generation LNG (liquefied natural gas) carriers from Mitsui & Co., Ltd., scheduled for completion and delivery in 2018 and 2019, respectively. They will be put into service for the Cameron LNG Project